In the year of Our Lord 1880, on the 23d of the month of February, there was presented at the Church a child born on the 21st of February at four pm, the daughter of Battista ___ , of the Gisanni, a native of Locana, and of Maria Margherita Vallino, the wife of Battista, a native of Locana, the spouses Conterio living in Locana, upon whom I, Monsignor Antonio V. Milano, Parish Priest, administered Baptism, and imposed the names Maria Elena, there being the godfather Francesco Giacherio, of the Antonio, and godmother Maria Elena, daughter of Antonis Gotta, representatives _____.

The information of the birth and the request for the Baptism was made by __________.

Your translation was good. I took the freedom to correct some little mistakes in the Italian transcription, and morevoer to clarify the mother's paternity in your English version: You were probably baffled by the fact Maria Margherita Vallino happened to have her husband and her father sharing the same first-name (Battista): but they were obviously two different people.
Also, in case you have a genealogical line in Locana and need to do further researches, don't understimate the annotation on the left: "Boschietto" (as "Piantonetto" in the act above) is the name of one of the circa 90 small Hamlets of the Comune of Locana, which is a mountain town of North Western Piemonte, close to the French border (I know that 'cause I live in the area). The territory was so vast (for our Italian standard, at least), that priests evidently felt the need to remark the name of the hamlet (something quite uncommon at that time): so, should you have a line in Locana, knowing which hamlet your family lived could make faster or more validated some steps of your research.

In the year of Our Lord 1880, on the 23d of the month of February, there was presented at the Church a child born on the 21st of February at four pm, the daughter of Battista [Conterio, son] of the late Giovanni[Conterio], a native of Locana, and of Maria Margherita Vallino, [daugther]of Battista [Vallino], a native of Locana, spouses Conterio living in Locana,
upon whom I, Priest Antonio V. Milano vice-Parish Priest, administered Baptism, and imposed the names Maria Elena, there being godfather Francesco Giacherio, of the late Antonio, and godmother Maria Elena, daughter of [the living]Antonio Gotta, represented by _____.

The information of the birth and the request for the Baptism was made by the newborn's father.